In The Loop April 22

Page 14

Bonus

Bonus Principles and New Performance Management scale A key focus of the Integration Programme and a core pillar of our People strategy is to establish a ‘One Bank’ Performance Management Framework and related Bonus Incentive Scheme. Launched in April, the new Performance Management Framework (PMF) applies to all colleagues and will ensure a consistent approach to measuring performance across the group. By implementing the PMF, all employees are now eligible to participate in our new all-colleague bonus scheme which is directly linked to both your individual and our wider business performance. The PMF is based on colleagues working towards a combination of Quantitative (volumes, measures, numbers, deliverables) and Qualitative (quality, culture, behavior, teamwork, values) KPIs. It fully assesses colleague contribution and of course, rewards them for the different levels of achievement and success that we see against objectives. The diagram below summarises the consistent and simple approach and importantly, its alignment to the overall business scorecard. A ‘one bank’ incentive framework

The framework of WHAT you can earn, how and when

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A ‘one bank’ performance framework

The framework of HOW we will assess performance and link to reward

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A ‘one bank’ application of the business scorecard

The importance of the wider business goals in what we seek to do

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A ‘one bank’ approach to reward, performance and alignment to the business scorecard


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In The Loop April 22 by Marketing - Issuu